By Black Star News
Photos: YouTube Screenshots
Last month, Donald Trump signed the so-called ‘One Big Beautiful Bill Act’ (OBBBA) into law. And, according to the Center for American Progress, the costs will be crippling for New Yorkers and will raise the cost on basic necessities like food, utilities, and healthcare.
The legislation puts into place the largest funding cuts to programs that support the basic needs of America’s most at-risk citizens. The Trump tax-breaks were instituted to benefit America’s richest citizens.
The Center For American Progress has outlined several areas where this legislation will drive up the expenses of Americans.
Food Costs
The OBBBA will cut food assistance and lead to higher grocery prices.
The OBBBA has instituted the largest cuts upon the Supplemental Nutrition Assistance Program (SNAP) in the nation’s history. In New York, 317,000 people are now instantly at risk of losing their SNAP benefits, this includes families with children. It is feared that hunger will rise as food prices rise. Trump’s tariffs will also increase strain on the budget of families.
The SNAP cuts will also have deleterious affects on local economies. For example, 5,287 SNAP retailers and grocery stores will face economic disruption due to failing business engagement. Job losses and local and state revenues are projected to decline. An estimated $1.7 billion in tax revenue is expected to be lost.
Energy Costs
The OBBBA will also increase energy prices.
New York households will be spending approximately $160 dollars more annually on gasoline by 2030. The Center For American Progress states that “The OBBBA’s rollback of vehicle emission regulations and federal electric vehicle affordability programs will increase the demand for oil.”
As 2026 starts, the Energy Efficient Home Improvement Credit will be ended–because of the OBBBA. Families who have made energy efficient enhancements will now be forced to pay thousands more for energy replacements and upgrades.
Medicaid Healthcare Costs
Over 22 million people nationwide, who are Affordable Care Act (ACA) recipients, will likely be forced to deal with significant premium increases, possibly several thousand dollars more. Medicaid spending was also gutted by the OBBBA, with around $1 trillion in cuts–in the next 10 years. Around 15 million people will lose health insurance coverage. In New York, around 18 rural hospitals were already at risk of closing before the signing of the OBBBA.
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